The baby boomers born in the 1940s and 1950s began entering the work force in the 1960s and 1970s
This demographic event ________ the natural unemployment rate, thereby shifting the short-run Phillips curve ________ and shifting the long-run Phillips curve ________.
A) increased; rightward; leftward
B) decreased; rightward; rightward
C) increased; rightward; rightward
D) decreased; leftward; leftward
E) increased; leftward; rightward
C
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An important condition required for economic growth is
A) economic freedom. B) a libertarian government. C) a totalitarian government. D) a democratic government. E) the incentive to limit international trade so that all economic growth remains within the country.
China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century
Indicate whether the statement is true or false